PBOC Injects $42.14B into Money Market - WSJ.com
The People’s Bank of China injected 265 billion yuan ($42.14 billion)
into the money market Tuesday by offering reverse repurchase
agreements, in its second biggest ever daily fund injection, as the
central bank extends its efforts to ease monetary conditions and bolster
a slowing economy.
The liquidity injection adds to the CNY2.418 trillion of reverse
repos that the central bank had offered since late June. It comes after
data released last week showed manufacturing activity in China
contracted for a second straight month in September, adding to doubts
about the strength of the world’s second-largest economy and suggesting a
need for a more aggressive stimulus effort.
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